3 Rentals in San Diego, what to do next...

[Richard K.]

I purchased a town home in 2015 with my VA entitlement, lived in the unit for a period of time and then rented it when I left for a deployment. Closed on a single family residence at the end of 2017, utilizing the remainder of my VA entitlement (plus had to put around 50K down to secure the loan since I was over my entitlement cap). I received orders to Virginia in 2018, and rented out that property. In May of 2019, I purchased my third home in San Diego with an FHA loan. At the time I did not have 20 percent to put down on the loan to eliminate the PMI so I opted to only put down 3.5% with the intention that I would refinance into a conventional loan 6 months later. This house is my primary residence. Without divulging specific numbers, I have almost enough cash in savings to refi my FHA loan into a conventional at which point I would like to rent this third home and get back in the market to purchase a multi-family unit, in which I would rent one of the units to myself. What is the best way to move forward with this? Leave the FHA loan in place, continue living in current property. Use the liquid cash I have saved to find a multifamily and get a conventional loan to fund it? Am I able to use the VA loan again, even though my VA loan is maxed- I have heard that the President signed a bill that lifts the VA cap? Leverage the properties I already own to fund my next investment- I likely have around 150K in equity between three properties.